In our blog we have talked to you several times about the extraordinary opportunities that Bulgaria offers to those who want to invest in its territory, primarily thanks to the hyper-advantageous taxation proposed for both natural and legal persons.
Well in this post we would like to go into a little more detail on this topic, in particular examining everything relating to direct taxes, trying to give you a clear picture of the differences between the Italian and Bulgarian regulatory frameworks; in fact, we are convinced, only starting from this comparison is it possible to have some more information to fully understand the advantages that push more and more Italian entrepreneurs to delocalise their business here in Bulgaria.
Partiamo dalle persone fisiche. In Italia la tassa di riferimento a riguardo è l’IRPEF, ovvero l’Imposta sul Reddito delle Persone Fisiche. Ha un carattere a scaglioni crescenti ovvero la percentuale di tassazione aumenta man mano che aumenta il reddito della persona fino a sfiorare il 50%. In Bulgaria l’imposta sulle persone fisiche ha invece una unica aliquota al 10%, cosiddetta flat tax, a prescindere dal reddito della persona. Che guadagnate 10 mila euro o 10 milioni di euro avrete sempre e solo un’unica aliquota fiscale al 10%. Un’aliquota che si abbassa poi al 5% per la tassazione dei redditi da interessi su capitale.
Let's now move on to legal entities. In Italy there are two: IRAP (Regional Tax on Productive Activities) and IRES (Corporate Income Tax). IRAP is a standard tax that applies to the net earnings of all companies and has a rate of 3.9%. As regards IRES, however, the rate is 24% and is also fixed regardless of the income produced by the legal person to which it applies.
Even in this the Bulgarian situation is much simpler, with a flat tax of 10% on the income produced by companies, businesses and industries regardless of turnover and, above all, profits (obviously the tax only applies to profits).
There remains an open point which is that relating to VAT. In Italy the Value Added Tax is mostly 22% for the bulk of activities. In Bulgaria the maximum VAT is 20% but for some sectors, such as tourism, the VAT taxation settles at around 10%.
